As we know, Bitcoin had reached at it's peak of $19k during the end of the year and after that it went to a deep decline.
People are hoping that the same momentum will take place this year too. So if this happens, won't people be ready for buying at this price.
Or lets say if the price really goes high and when the year end comes, won't the people sell it before the decline arrives ?
If people start selling, don't you guys think that the decline will arrive much faster than the last year ?
P.S : My point is, we can't expect the price to rise and fall the same way as the last year.
Some people sell bitcoin and some people buy bitcoin. It's what happens all the times in the market. News and many other factors determine the supply and demand and demand can be higher even if many people take out their profit. Whales also affect the prices. Note that a day the price was less that a dollar. Just look at the charts. The next wave can be very fast.
Yeah, it is a market and as long as the selling is more than the buying, we will get to see such happen. The thing is that market is not supposed to be in one way, otherwise it would not be a market and if there is no one selling, there would be no one buying. It is just funny though that some people do not understand all that but they just think things will always happen very smooth.
Whales make the most part of it, and the perception of the market at the point also makes some part of the whole equation. At the same time, we cannot say decline will arrive much faster though and that totally depends on that level if there is enough demand or volume to push it out of the way or not.
It is a psychological level as well and I expect it would be some tough resistance to break as those who have been holding all these while would see it as a means to quickly want to sell off, but that is the idea of resistance, having a retrace if it could not be broken, retesting it again and so on until it gets broken.